16180 Meyers RdDetroit, MI 48235

Property Details for 16180 Meyers Rd

Year built

1956

Lot size

0.18 AC

Property size (Sq ft)

5,514 SF

Zone code

B2

Property type

Healthcare properties

Property subtype

Medical offices

APN

16046111-4

APU

160461114

Description

This exceptional 5,522-square-foot freestanding building, located at 16180 Meyers Rd in Detroit, Michigan, presents a unique opportunity for a variety of businesses. Built in 1956 and situated on a 0.18-acre lot, the property is zoned B2 Local Business, offering flexibility for diverse uses. Currently entirely vacant, the space is ideal for a medium-sized business or large non-profit organization. The layout features a large open area complemented by private offices, providing ample space for various operational needs. A fully equipped kitchen is included, adding further versatility. The building is equipped with existing security and internet infrastructure, minimizing initial setup costs. The motivated landlord is open to build-to-suit options, tailoring the space to meet specific tenant requirements. This prime location in Wayne County, with easy access to major transportation routes, makes this property an attractive investment. The property's single-tenant occupancy simplifies management and provides a cohesive work environment. This is a rare opportunity to acquire a well-located, adaptable commercial space with significant potential for growth and customization. The property's existing infrastructure and the landlord's willingness to collaborate make this an exceptional opportunity for a business seeking a move-in ready space or a customized solution.

• CAP approach

  CAP return

  Valuation

  6%

  $1,146,832

  6.5%

  $1,058,614

  7%

  $982,998

• Comparable approach

  Method

  Valuation

  Relative Method

  $515,780

  Geo Method

  $515,780

• Alternative Use

  Use

  Valuation

  Residential

  $1,312,681

  Hospitality

  $1,202,409

  Educational

  $1,000,390

  Medical

  $1,034,795

  Retail

  $1,556,162

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4107

Longitude

-83.1695

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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